A.G. Erotocritou LLC is actively engaged in all aspects of legal work pertaining to the real estate sector. Our team provides advice to real estate companies and developers, private and public bodies, private individuals, investors, lenders, contractors and property-owning institutions and assists and advises in the purchase and sale of both commercial and residential property and of other development projects. The firm undertakes a multiplicity of functions which cover all aspects relating to and associated with immovable property transactions, including, inter alia, the following:
- Negotiating, drafting and reviewing contracts of sale for residential or commercial properties
- Advice and assistance with property management agreements, multi-party agreements and complex contracts relating to major property developments
- Advice on financing matters
- Undertaking of property due diligence exercises
- Advice on town planning and zoning rules
- Advice on long – term leasing and subleasing matters
- Advice on public procurement and concessions
- Advice on real estate structures
- Due diligence on real estate assets / Investigating the status of immovable property and the seller
In addition to the above, our firm is able to undertake all requisite due diligence initiatives that may be necessitated to determine the impact of charges, environmental restrictions, planning/building limitations etc. in relation to any immovable property transactions undertaken. Furthermore, A.G. Erotocritou LLC may effectively institute or defend court proceedings on behalf of its clients in the event that any real estate matter or dispute should culminate in litigation.
In safeguarding clients’ best interests, effective channels of communication are diligently maintained by A.G. Erotocritou LLC with all key players who are directly or indirectly involved in the real estate sphere. This might entail ongoing contact with lawyers, developers, estate agents, investors, government departments (land registry, planning department, council of ministers, inland revenue), municipal/utility authorities and others. In addition, we support clients throughout the transaction, from A to Z, including the attendance and handling of all processes with the local Land Registry, Tax Department and other governmental organisations. In conjunction with our tax department, we provide to our clients tailor made optimized tax solutions in order to achieve the best and most cost effective results in each occasion.
A.G. Erotocritou LLC's real estate department has been consistently praised and ranked by legal directories (ranked as “tier 2” by the 2018 Legal 500 directory), being described as a "commercially aware" team, which provides "very personalised service".
Recent work handled includes:
- We have represented a plethora of high net worth individuals in relation to their investments in the real estate sector (some of them constitute the most important/high profile investments that ever took place in Cyprus), including, amongst others, in the hotel and tourism sectors. By way of example, we are representing an UHNWI in relation to the acquisition of a large seaside plot of land and the prospective construction of a 5star hotel.
- We were entirely responsible for the licensing process and the lease of various plots to a local entity and the subsequent sublease of the same to one of the world’s largest oilfield services companies with its shares listed in the NYSE in Larnaca as well as the development and construction of various offices, warehouses and workshops to be used by the latter for energy related purposes. The deal was one of the first ever developments / large scaled projects in the energy sector in Cyprus.
- We have been instructed by a leading international firm, to undertake an extensive due diligence on various Cyprus entities with substantial assets, part of a large group which has its shares listed in the London Stock Exchange.
- We have performed a high level and extensive due diligence exercise on a multinational group (with significant real estate assets) specializing in land and transition–zone seismic sector, which (one of its holding companies) had its shares listed at the time in the stock exchange of an EU Member State.
- We have advised and assisted one of our clients in relation to their participation in the construction of a seaside residential tower, which constitutes one of the largest developments ever made in Cyprus.
For further information or in case you have any legal issues, please contact us at: